There's a reason why it's said you're in your Golden Years after you've retired. It's supposed to be a time of peace and tranquility where your burdens have faded away, but now that isn't always the case. Too often retirees now face the stress of running low on essential funds from their medical bills, credit card debt, or other expenses, but they rarely utilize the biggest investment they've made to ease their struggles.
If you currently have a reverse mortgage, you may not be aware that you can refinance, enabling you to potentially access additional funds. It is a simple process that starts with a free property value evaluation, that only takes a moment! Call us today at (877) 531-8889 to see if you are eligible.
With a reverse mortgage you'll be able to free up the equity you've accumulated and use it now that you need it. Not only that, but if you currently have mortgage payments that haunt you on a monthly basis, you'll never have to worry about them again, because a reverse mortgage can actually pay off your current one! While some people use the money reverse mortgages pay them for medical bills or living assistance, what you can use it for isn't limited in any way. You can use it to make renovations to your home, get a new car or even go on vacation. With a reverse mortgage, your golden years truly can be just that.
A reverse mortgage is a non-recourse loan, which means the borrower will never owe more than the home is worth, and after you've passed your heirs can choose to sell the property to pay off the loan or refinance the entire amount of the existing mortgage balance, no matter what the home's appraised value is.
If you're 62 years of age or older you may qualify for a reverse mortgage, which would let you continue to live in your home without the need to keep making payments for the duration of your life or until you permanently leave the residence. You are however, still responsible for your annual obligations such as property maintenance, property taxes and insurance payments.
For any questions about reverse mortgages, please don't hesitate to call us at (877) 531-8889.
